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Pruitt Corporation owns 9 0 % of the common stock of Sedbrook Company. The stock was purchased for $ 6 2 6 , 1 3
Pruitt Corporation owns of the common stock of Sedbrook Company. The stock was purchased for $ on January when Sedbrook Companys retained earnings were $ Preclosing trial balances for the two companies at December are presented here:
Pruitt Corporation Sedbrook Company
Cash $ $
Accounts Receivable net
Inventory
Investment in Sedbrook Co
Other Assets
Dividends Declared
Purchases
Other Expenses
Total $ $
Accounts Payable $ $
Other Liabilities
Common Stock
Retained Earnings
Sales
Dividend Income
Total $ $
Ending Inventory $ $
The January inventory of Sedbrook Company includes $ of profit recorded by Pruitt Corporation on sales. During Pruitt Corporation made intercompany sales of $ with a markup of on cost The ending inventory of Sedbrook Company includes goods purchased in from Pruitt for $
Prepare the consolidated statements workpaper for the year ended December List items that increase retained earnings first.
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